Next, Square will unveil an inventory tracking feature whereby sellers can manage their stock quantities via a web dashboard -- which will be compatible with the company’s in-person Square Register checkout tool as well as its ecommerce component, Square Market.

Users can set up alerts "so they are never caught off guard by low inventory,” Square said.

And finally, the company will introduce a tool that enables consumers to preorder items from Square Market -- via online or mobile -- and then pick them up in-store. With an introductory rate of 2.75 percent through July 1, the pickup feature will ultimately charge an 8 percent processing fee per order.

This feature is especially useful for restaurants, Square said, noting that ‘food and beverage’ is the second most popular category of all goods purchased on smartphones.

At 20, Wences Casares launched Argentina's first Internet service provider. Now 40, and with several successful startups under his belt, the serial entrepreneur is on a mission to bring financial security to underserved communities through Bitcoin.